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Wednesday, March 01, 2017

Back To The Future - EU May Revert To Single Market

Oh irony of irony, the EU is finally waking up to the fact that the best way to survive may in fact be to revert to its past; namely to become a single market (what once was called the "Common Market").

"THE EUROPEAN UNION IS GRADUALLY
RE
-
CENTRED ON THE SINGLE MARKET.

Why and how?

In a scenario where the EU27 cannot agree to do
more in many policy areas, it increasingly focuses on
deepening certain key aspects of the single market.
There is no shared resolve to work more together in
areas such as migration, security or defence.

As a result, the EU27 does not step up its work in
most policy domains. Cooperation on new issues of
common concern is often managed bilaterally. The
EU27 also significantly reduces regulatory burden
by withdrawing two existing pieces of legislation for
every new initiative proposed.

By 2025, this means:

The functioning of the single market becomes the
main
"raison
d'être" of the EU27. Further progress
depends on the capacity to agree related policies and
standards. This proves easier for the free movement
of capital and of goods, which continues tariff
-
free,
than it does in other areas."

This revelation on the road to Damascus comes in whitepaper on the future of Europe, published by the European Commission and signed off by Juncker.

Needless to say, Juncker and his ilk want full steam ahead to full political and monetary union. However, that simply won't happen.

In reality, the EU will be lucky to survive even as a "Common Market"!